Why India does not have technology-based product companies and why early companies like TCS, Infosys etc did not focus on the product.
"India doesn't have product companies".
OP, this isn't 1990s.
Probably he would have said minuscule . Cannot deny that. We cannot just be depending on Zoho .. freshworks etc Fact is- We are lagging for the talent we have
Freshworks, zoho ?? Lol Do you know anything about Indian tech companies which are catering to global markets?
There are many companies like Postman, InMobi, Hasura, Exotel etc. which are doing well in global market. India is becoming really big in SaaS.
My friend is currently working on founding a tech product based startup. He tried to sell to clients in India but wasn't very successful. Clients in the US on the other hand are proactive and take you more seriously he said. He is going to the US next year to meet his clients and network next year and make more sales. Postman was also founded in India but eventually moved to San Francisco. The thing is many times Indian labour is so cheap that businesses don't see any point in using software or just be efficient by using them. This creates a pull factor from US and competent engineers, founders with tech product idea find it easier to work there and later set up shops in India for maintenance and servicing needs of products. Just my take on this...
Yes totally agree. Culture in the US is different and It is sometime difficult to get true value of your products in India.
They made the most of a wage arbitrage led business model that was driven in part by the Rise of the Internet.
They made the most of the Gold Rush during Y2K which led to a burst demand, the likes of which haven't been seen again. This ensured they engaged with clients who otherwise weren't even thinking of outsourcing.
Over a period of time they optimized delivery to ensure consistent delivery and a broad bouquet of service offerings.
I'd venture to say if the Indian outsourcers didn't exist, there would no StartUps of note in India. That foundation and availability and progressive maturity of tech talent is an important ingredient of todays successes.
TCS has a product business (BanCs & iON), Infosys has Edgeverve (Finacle). Other product companies exist which have been moderately successful - Intellect Design (Polaris), NewGen, etc.
One of the reasons I can think of is that product based companies needs more fund and risk.
Same reason why, Indian some product companies are headquartered in US or Singapore.
If you are comparing to US, then 3 reasons 1. There isn't a market for tech here like US or Europe. Most companies start closer to the market. 2. Lack of quality entrepreneurs in the tech space. The trend has only started last decade for India vs US had it from 1990's. 3. Lack of quality software engineering. Again started only in the last 1.5 decade in India but this is already matching US.
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https://youtu.be/lUp5xKvGzDw?si=GVh3pdYnu2uwpVDS
Not sure of the authencity of the video. But look at the scale of use of tech.
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